$ETH weekly close breaks above new highs since 2024, while also breaking through the weekly expansion pattern that has been in place since then. Currently, the entire market only has the high supply zone from 2021 remaining.

The current price is absorbing the residual supply in this area!

As they say, third time's the charm; this is the fourth attempt to break through the historical supply zone, and I believe the probability of a new high is high. Once broken, the long-term target can be set between 5800 and 6800.

If it fails to break through again, it would truly be a complete defeat, as if even the historical supply from four years ago can suppress it, it indicates that market demand has completely dried up...

In short, stay optimistic!